https://www.taxtmi.com/caselaws?id=303944 Interest paid by an Indian branch of a foreign bank to its overseas head office was treated as not taxable in India where the Tribunal's earlier coordinate decision in the assessee's own case had already resolved the issue in its favour and no higher authority had displaced that view. The Revenue's reliance on section 40(a)(i) also failed because that provision was not the basis of the assessment in the relevant year and was advanced on an incorrect factual premise. The Tribunal therefore dismissed the Revenue's appeal and sustained the relief granted by the first appellate authority. en-us Thu, 28 Feb 2019 00:00:00 +0530 Fri, 09 Sep 2022 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303944 Interest paid by an Indian branch of a foreign bank to its overseas head office was treated as not taxable in India where the Tribunal's earlier coordinate decision in the assessee's own case had already resolved the issue in its favour and no higher authority had displaced that view. The Revenue's reliance on section 40(a)(i) also failed because that provision was not the basis of the assessment in the relevant year and was advanced on an incorrect factual premise. The Tribunal therefore dismissed the Revenue's appeal and sustained the relief granted by the first appellate authority. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303944